Truvestments Capital LLC Raises Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Truvestments Capital LLC grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1,036.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,295 shares of the credit services provider’s stock after purchasing an additional 6,653 shares during the period. Truvestments Capital LLC’s holdings in PayPal were worth $489,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Quadrature Capital Ltd boosted its position in shares of PayPal by 155.7% during the 1st quarter. Quadrature Capital Ltd now owns 470,662 shares of the credit services provider’s stock worth $31,530,000 after purchasing an additional 286,629 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of PayPal during the 1st quarter worth $251,000. JT Stratford LLC raised its stake in shares of PayPal by 18.1% during the 1st quarter. JT Stratford LLC now owns 21,781 shares of the credit services provider’s stock worth $1,459,000 after buying an additional 3,331 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of PayPal by 0.4% during the 1st quarter. Toronto Dominion Bank now owns 557,100 shares of the credit services provider’s stock worth $37,320,000 after buying an additional 2,146 shares during the last quarter. Finally, Napean Trading & Investment Co Singapore PTE Ltd raised its stake in shares of PayPal by 47.2% during the 1st quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 92,763 shares of the credit services provider’s stock worth $6,214,000 after buying an additional 29,738 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the transaction, the director now owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PYPL shares. TD Cowen lifted their price target on PayPal from $58.00 to $68.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. New Street Research started coverage on PayPal in a research note on Friday, May 31st. They set a “buy” rating and a $80.00 price target for the company. BMO Capital Markets lifted their price target on PayPal from $64.00 to $65.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. Citigroup lifted their price target on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Sanford C. Bernstein boosted their target price on shares of PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Twenty investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.10.

PayPal Trading Up 1.9 %

Shares of NASDAQ:PYPL traded up $1.07 during trading on Friday, reaching $58.29. 11,323,434 shares of the stock were exchanged, compared to its average volume of 10,263,198. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The firm has a market cap of $60.97 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 0.93 and a beta of 1.42. The firm’s 50-day moving average price is $60.98 and its 200 day moving average price is $62.15.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.15 earnings per share for the current fiscal year.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.